Commodities Daily Forecast – December 8, 2017

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Published: Dec 8, 2017, 08:16 UTC

Gold The gold prices went down significantly during the yesterday's session reaching the $1250 level. This is essentially the fair value of this market in

Gold

The gold prices went down significantly during the yesterday’s session reaching the $1250 level. This is essentially the fair value of this market in the longer-term charts of consolidation that has been seen in the several months. If the US reports better job data, this gold prices will be very volatile and can break the $1250 level which will then send this market towards the $1225 level. This market provides the value buying opportunity for longer-term trade opportunity. …Read More

Silver

The silver prices continued its negative trend during the Thursday’s session as it broke down towards the $15.75 level. The market will now find enough resistance to cross above the $16 level and given the strength in the dollar, this market will remain under the negative pressure. The breakout above the $16.50 level will help this market to negate some of the negative factors. …Read More

WTI Crude Oil

The crude oil prices went back and forth during the yesterday’s session but then broke above the $56.50 level. The $57 level is going to be massively resistive for this market and with job data coming out from the US, this market will be very much volatile. Any exhaustive candle in the market will send this market down towards the $55 level which is now acting as a floor of this market. …Read More

Natural Gas

The negative pressure on the natural gas price continued through the Thursday’s session as it reached the $2.75 level. In the short term, there might be some long trades with a target of $2.85 or even $3 level. The market will remain volatile and even if this market breaks down the $2.75 level then it will attract buyers into the market. Given enough time the market will gain some momentum as the seasonality demand increases from the US on back of colder weather. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.